Labour could suffer Lib Dem-style election punishment if they raise taxes, Reeves warned – UK politics live

<p>Warning against breaking manifesto promise comes as speculation mounts about rise in income tax ahead of budget day on 26 November</p><p><strong>Farage</strong> says small business owners thought that Brexit would cut the regulatory burden they were facing. But that did not happen, he says.</p><p>The other great betrayal is that is every one of these millions of businesses, every one of these 5.6 million businesses, believed that, with Brexit, the regulatory burden on their shoulders would become less.</p><p>I can tell you, a decade on, almost from the referendum, in every single industry, from financial services to fisheries, the burden of regulation and the threat of the regulator is worse now than it was then.</p><p>The sheer level of disconnect between the frontbenches in Westminster and what these men and women do in their lives has never been greater at any time in our history.</p><p>This Labour government has absolutely no comprehension of what it’s like to set up a run a small business and to meet a monthly payroll. None of them have ever done it. None of them get it.</p><p>There is no understanding of the impact of legislation. And that is because government only listens to big business.</p><p>I saw this myself in my 20 years in Brussels. The big companies have their own lobbying offices and it’s not dissimilar here in Westminster. It’s the big businesses that take you to Wimbledon. It’s the big businesses that take people out for dinner. It’s the big businesses that shape policy. And the small businesses, frankly, don’t even get a look in.<em> </em></p> <a href="https://www.theguardian.com/politics/live/2025/nov/10/labour-rachel-reeves-election-manifesto-tax-budget-news-updates-uk-politics-live">Continue reading...</a>